Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies (Tables)

v3.23.3
Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
Schedule of customer concentration risk Customers that accounted for more than 10% of consolidated revenues during any of the fiscal years ended September 30, 2023, 2022 and 2021 are presented below:
% of Consolidated Revenues for the Fiscal
Year Ended September 30,
2023 2022 2021
Alabama Department of Transportation * 10.0% 10.8%
Florida Department of Transportation 10.7% * *
North Carolina Department of Transportation 10.5% 11.2% 10.3%
Schedule of revenue by major customers by reporting segments The following table reflects, for the periods presented, (i) revenues generated from public infrastructure construction projects and the sale of construction materials to public customers and (ii) revenues generated from private infrastructure construction projects and the sale of construction materials to private customers.
% of Consolidated Revenues for the Fiscal
Year Ended September 30,
2023 2022 2021
Public 63.0% 60.9% 61.3%
Private 37.0% 39.1% 38.7%
Schedule of useful lives of property, plant and equipment
The estimated useful lives of property, plant and equipment categories are as follows:
Category Estimated Useful Life
Land and improvements
Land, unlimited; improvements, 15-25 years
Mineral reserves Based on depletion
Buildings
5 - 39 years
Plants
3 - 20 years
Construction equipment
3 - 10 years
Furniture and fixtures
5 - 10 years
Leasehold improvements
The shorter of 15 years or the remaining lease term
Property, plant and equipment at September 30, 2023 and 2022 consisted of the following (in thousands):
September 30,
2023 2022
Construction equipment $ 447,467  $ 402,581 
Plants 208,708  167,625 
Land and improvements 76,396  59,454 
Mineral reserves 69,405  91,992 
Buildings 36,885  32,566 
Furniture and fixtures 7,538  7,110 
Leasehold improvements 1,268  1,230 
Total property, plant and equipment, gross 847,667  762,558 
Accumulated depreciation, depletion and amortization (358,462) (304,935)
Construction in progress 15,890  23,789 
Total property, plant and equipment, net $ 505,095  $ 481,412